When Is the Final Walkthrough Before Closing?
Prepare for your home's final inspection before closing. Discover essential tips on timing and what to verify for a smooth real estate transaction.
Prepare for your home's final inspection before closing. Discover essential tips on timing and what to verify for a smooth real estate transaction.
The final walkthrough is a crucial step for homebuyers before closing. This inspection confirms the property’s condition and ensures all agreements from the purchase process have been fulfilled. It helps prevent unwelcome surprises after the sale is finalized.
The final walkthrough verifies the property remains in the agreed-upon condition as outlined in the purchase contract. This includes ensuring any seller-committed repairs are completed satisfactorily. Buyers also confirm all fixtures, appliances, and other items included in the sale are present and in proper working order. The walkthrough additionally serves to confirm the property is vacant, clean, and free of the seller’s personal belongings. This step helps safeguard the buyer’s investment, providing peace of mind before taking ownership.
The final walkthrough is scheduled very close to the closing date, often within 24 to 48 hours beforehand. This timing allows enough time for the seller to address any minor issues discovered, while being sufficiently close to closing that the property’s condition is unlikely to change significantly. Conducting it after the seller has moved out provides a clearer view of the home.
Should issues arise during this inspection, the buyer’s real estate agent will communicate them to the seller’s agent. For minor problems, a quick resolution might be arranged before closing. More significant issues could lead to negotiations for a credit at closing, where funds are held in escrow to cover repair costs, or in some cases, a brief delay. Most issues can be resolved through negotiation to keep the transaction on track.
During the final walkthrough, buyers should systematically check all rooms, including closets, attics, and basements, for any new damage or items left behind by the seller. Verify that all agreed-upon repairs from the initial home inspection have been completed to a professional standard. Bringing a copy of the purchase agreement and inspection report can help ensure nothing is overlooked.
Focus on the functionality of systems and appliances: